BioNTech Alumni Secure $90M Series A for Bispecific I&I Startup

A new player in the field of immunology biotechnology has successfully closed its Series A funding round, securing significant financial backing from a group of seasoned investors with extensive industry knowledge. Bambusa Therapeutics announced on Friday that it has raised approximately $90 million in this pivotal round of financing. The influx of funds is strategically aimed at advancing the company’s first two drug candidates to clinical trial stages by the middle of this year.

Bambusa Therapeutics was established by Shanshan Xu and Helmut Jeggle, both of whom bring a wealth of experience from their tenure at BioNTech. Jeggle continues to hold an influential position as the chair of BioNTech’s supervisory board, lending credibility and expertise to the nascent company.

The funding round was spearheaded by RA Capital Management, a notable leader in biotech investments. Joining as new investors were Janus Henderson Investors, Redmile Group, Invus, and ADAR1 Capital Management, further diversifying the financial and strategic support for the startup.

Founded in the previous year, Bambusa is currently engaged in the development of four promising pipeline programs. While the specific targets have not been publicly disclosed, the company is focused on the innovation and commercialization of new bispecific antibodies. These antibodies are anticipated to play a key role in the treatment of various conditions, marking a significant advancement in therapeutic options.

The foremost candidate, BBT001, is under investigation for dermatologic uses and is slated to commence clinical trials by the end of March. The subsequent candidate, BBT002, is poised for potential applications across a spectrum of conditions, including respiratory, dermatology, and gastroenterology. It is projected to enter its initial human trials by mid-2025, signifying a major step in its development process.

Meanwhile, Bambusa's additional two programs, labeled BBT003 and BBT004, are still in the pipeline without specific timelines for clinical entry. BBT003 is tailored for the treatment of inflammatory bowel disease, whereas BBT004 is focused on addressing rheumatological conditions.

The company has also experienced some changes in its executive team. Earlier this year, Bambusa parted ways with its Chief Medical Officer, Rene van der Merwe, a decision that CEO Shanshan Xu attributed to a lack of fit within the team. Van der Merwe did not provide immediate comments on the departure.

In addition to the fresh influx of Series A investors, existing supporters increased their stakes. These returning investors include BVF Partners, KKR’s Dawn Biopharma, Salvia GmbH—Jeggle’s family office—and INCE Capital. This continued commitment from previous backers highlights their confidence in Bambusa’s strategic direction and potential impact on the biotechnology landscape.

Through this robust financial underpinning and a clear focus on groundbreaking treatment solutions, Bambusa Therapeutics is well-positioned to make substantial strides in the field of immunology, potentially transforming therapeutic options for a range of conditions.